Fair Value Measurement of Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2015

Schedule of fair value of assets and liabilities measured on a recurring basis

The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014:



Description	Balance as of June 30, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
	(In millions)
Assets:
Cash and cash equivalents	$	4,971	$	3,939	$	1,032
Short-term investments:
Restricted cash	44		44		—
Corporate debt securities	3,737		—		3,737
Government and agency securities	595		—		595
Time deposits	56		—		56
Equity instruments	1,151		1,151		—
Total short-term investments	5,583		1,195		4,388
Funds receivable and customer accounts	5,839		—		5,839
Derivatives	181		—		181
Long-term investments:
Corporate debt securities	5,664		—		5,664
Government and agency securities	51		—		51
Total long-term investments	5,715		—		5,715
Total financial assets	$	22,289	$	5,134	$	17,155

Liabilities:
Derivatives	$	61	$	—	$	61



Description	Balance as of December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
	(In millions)
Assets:
Cash and cash equivalents	$	6,299	$	3,888	$	2,411
Short-term investments:
Restricted cash	29		29		—
Corporate debt securities	2,519		—		2,519
Government and agency securities	3		—		3
Time deposits	181		—		181
Equity instruments	1,037		1,037		—
Total short-term investments	3,769		1,066		2,703
Funds receivable and customer accounts	4,161		—		4,161
Derivatives	219		—		219
Long-term investments:
Corporate debt securities	5,319		—		5,319
Government and agency securities	233		—		233
Total long-term investments	5,552		—		5,552
Total financial assets	$	20,000	$	4,954	$	15,046

Liabilities:
Derivatives	$	27	$	—	$	27